The character-filled Terminus pub that has been a feature of the Pyrmont precinct for many years is being sold by the private consortium owners who are taking advantage of the hot market and have a price expectation of around $15 million.

Having been dormant for more than 30 years and covered in moss and twines, it was bought by the current owners in April 2016 for about $5 million. Close to the same amount was spent on breathing new life into the corner site by cleaning the historic facade and upgrading the interiors.

Built in early 1900s Federation style, the hotel was originally called The Cooper’s Arms Inn but took its current name in 1911 from the tram service that terminated on the corner of Harris and Jones Streets.

It was owned by the Wakil Family for three decades but at a time when the Pyrmont precinct was also a wasteland until the nearby by former CSR refinery was redeveloped into apartments. Commercial properties followed along with the Star casino, which put the area on the map.

Seven years ago, a private consortium bought the site which is set across two storeys and sits on a 493-square metre site. The first level has 12 rooms for pub-style accommodation, and associated shower and restroom facilities.

Few opportunities such as this avail themselves to the public market

HTL Property managing director Andrew Jolliffe

HTL Property managing director, Andrew Jolliffe is selling the pub and said the well publicised introduction of a new Metro station in proximity to the Terminus Hotel, and the proposed further development of both the Star Casino and Harbourside Shopping Centre, see “few opportunities such as this avail themselves to the public market”.

“It is a rare offering”, Jolliffe said.

It is expected that pub operators and owners including Justin Hemmes’ Merivale group, the Laundy family – which own the nearby Harlequin pub – and Bruce Solomon and Matt Moran’s Solotel group are, among others, possible buyers.